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Tommy Hilfiger grants new luggage license

18
Jun '10
The Tommy Hilfiger Group, which is wholly owned by Phillips-Van Heusen Corporation, announced that it will bring its European handbag and small leather goods business in house, effective for Spring 2011.

Tommy Hilfiger handbags and small leather goods were introduced to the European market in 2004 under a licensing arrangement currently operated by Tichebox Srl. Sales exceeded EUR 16.5 million (US$20.3 million) at wholesale in 2009.

"The integration of this business within the Tommy Hilfiger Group is intended to optimize both product development, as well as sales," said Fred Gehring, Chief Executive Officer of the Tommy Hilfiger Group. "We see tremendous growth potential for these categories and this step will provide us with greater control and improved brand alignment."

The transaction is expected to close by June16, 2010. No financial details of the transaction have been disclosed. The division will be managed by Christopher Koerber, SVP of Footwear and Accessories and will report to Daniel Grieder, CEO of Tommy Hilfiger Europe B.V. Simultaneously with the closing, Tommy Hilfiger will enter into a new licensing agreement with Tichebox for the design, production, sales and marketing of luggage under the Tommy Hilfiger brand.

With a premium lifestyle brand portfolio that includes Tommy Hilfiger and Hilfiger Denim, The Tommy Hilfiger Group is one of the world's most recognized designer apparel groups. Its focus is designing and marketing high-quality menswear, womenswear, children's apparel and denim collections. Through select licensees, the Group offers complementary lifestyle products such as accessories, fragrances and home furnishings. Merchandise under the Tommy Hilfiger brands is available to consumers worldwide through an extensive network of Tommy Hilfiger retail stores, leading specialty and department stores and other select retailers and retail channels.

Tommy Hilfiger Group


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